Director Of Credit Management For A Finance Company
Career review from a person working in the job
How I Got The Job
My Education: MBA, Binghamton University (SUNY)
My Prior Experience: I was a senior underwrite for the equipment finance group of a very large bank.
My Job Profile
My Company: I work for a finance company that provides various loan products.
Job/Career Overview: My job entails analyzing prospective borrowers' corporate operating performance and financial condition and then I help structure the appropriate lease financing package. I start by spreading the financial statements for a three year period and then risk rate the company for a final score. Then I write the analysis out and provide supporting analytical charts about its operating and financial performance.
I include various other information that include analysis of the equipment, expected payback period, analysis of the industry, risks and mitigants, and then a list of strengths of the proposed transaction. I finished by adding my personal concluding opinion as to why I like the deal. This then enables the management team to study the transaction and arrive at an informed yes or no decision. If the transaction is approved, it goes to our operation department for funding and closing of all legal documents. After its funded, it comes back to me for ongoing periodic review. Part of my job is to monitor it on an ongoing basis to continually assess risk over time and until the full lease facility is repaid.
More Insights: You will learn a lot, but it could pigeon hole you in the credit analysis role for the duration of your career. So, if you think you want to do something else like marketing or strategy, do not stay in credit analysis for more than five years.
Love It? Hate It?
I rate this career 5 out of 10.
What I Love or Hate
The best part of the job is that I have refined my writing. It has helped become a good writer; I better understand fact presentation, prose, and logic flow. Further, over the years, I have gained a stronger understanding of financial analysis, economic analysis, and gained insights into a multitude of industries and how they work.
The worst part of the job is that it could be routine. I do sit behind a desk and crunch numbers and write all day. Boredom sets it sometimes.
My Career Tips
This job requires a lot of financial analytical skills and strong communication skills - both written and spoken. I recommendation is to get as much education as you can. Get a least a master's degree (MBA or MS in accounting, finance, economics etc.) as this will help you understand numbers, the economy, business operations etc. Also, take a lot of writing courses and public speaking courses. The last thing you want to do is get a job and not be able to convey your thoughts to management...your bosses.
